Intuit QuickBooks Payments is payment processing service software that's part of a larger financial software ecosystem that helps businesses of all sizes operate efficiently.

Intuit QuickBooks Payments (whose pricing can vary) is a solid credit card payment processing solution. It's part of Intuit's software ecosystem, which has several tools that assist businesses with their book balancing, compliance, mobile payments, and tax needs. Intuit QuickBooks Payments is a great choice if you are looking to get a better handle on your company's transactions and other finances. We appreciate its ability to easily connect with other types of accounting software, as well as the availability of its desktop and mobile versions. It stacks up pretty well against competitor Payment Depot, but falls up short against our Editors' Choice picks Helcim and Square POS in our credit card processing services review roundup.

Startup Costs, Fees, and Setup Process

Intuit has two pricing plans, and says a typical client will process at least $2,000 per month. The pay-as-you-go plan is best for lower-volume merchants and costs 2.4 percent per transaction for swipes and dips 3.4 percent for keyed-in transactions, plus a 25-cent transaction fee. For higher-volume merchants, the monthly plan might work better, which offers lower per transaction rates (2.4 percent swipes or 3.4 percent keyed in plus 25 cents transaction fee) for $20 per month.

For vendors on the go, Intuit's GoPayment uses a mobile credit card reader that plugs into the headphone jack of your smartphone or tablet. New customers will receive a free reader upon signup; additional readers are $10 each. GoPayment also has a pay-as-you-go plan and a monthly plan. The first plan has no monthly fee and a 2.4 percent transaction fee for swipes and dips or 3.4 percent for those that are keyed in plus a 25-cent transaction fee. For $20 month, there's a 1.6 percent fee on in-person transactions or a 3.2 percent fee on keyed-in transactions, plus a 25-cent transaction fee.

Intuit also sells desktop Point-of-Sale (POS) software, starting at $1,800. The software can either be used with a PC or with compatible equipment, which is also for sale on Intuit's website. POS plans have a separate pricing scheme, which is $20 per month. Fees are 2.3 percent plus 25 cents for swipe/dip; 3.2 percent plus 25 cents for keyed-in transactions, and 1 percent plus 25 cents for swipe/dip with PIN. (The latter option is prevalent in Canada and Europe where a PIN is required for most cards.) For all plans, Intuit sets up its clients with a merchant account. High volume businesses can call Intuit to negotiate lower rates.

The fee for chargebacks is $25, which fits the industry standard. Managing chargebacks is a manual and costly process that involves working with the credit card company to determine whether fraud occurred or to prove whether or not a customer received their purchase.

Features and Third-Party Integrations

There are 1,200 third-party apps that work with QuickBooks, and Intuit has open APIs for Quickbooks and Payments so developers can connect to the ecosystem. Intuit offers 24/7 online support. Clients can get assistance by phone between 6 a.m., and 6 p.m. (PST) from Monday to Friday and 6 a.m. to 3 p.m. (PST) on Saturdays.

CardFellow has a review of GoPayment, the mobile payment arm of QuickBooks Payments. Its review references a time when Intuit was using bundled pricing, which used to be the industry standard. Bundled pricing means that processors set the rates for different card transactions, and merchants were often left in the dark about which transactions were charged at which rates. However, in 2014, Intuit overhauled its pricing structure to a flat rate structure similar to Square's, which is more transparent and predictable. CardFellow says there is a slightly higher fee for reward cards, which isn't listed on Intuit's website alongside the other fees.

Intuit is a Better Business Bureau (BBB) accredited company with an A-plus rating. As of this writing, it has one positive review, 45 negative reviews, and 1,634 complaints. The complaints pertain to the company as a whole, not just the payments piece. That said, the company has responded to most of the complaints, and the BBB determines that Intuit makes a "good faith effort" to accommodate customers. It gets a B rating from CardPaymentOptions.com, but it refers to Intuit's pre-2014 rates. MerchantMaverick discusses both the old rates and new rates and makes the point that the additional 25-cent transaction fee (in addition to the percentage fee) can add up if you mainly process small transactions. The review was written before Intuit released an EMV solution to accept chipped cards, but that is now part of its offerings.

If you're a small business looking for a full-fledged accounting solution, QuickBooks is a good choice that will help you easily accept payments from customers, handle bookkeeping, manage payroll, and prepare for tax season. Its processing rates are transparent and larger merchants can negotiate lower fees for high volume transactions. Micro-merchants with low average transactions are better off with a service like Square Point of Sale. Larger merchants should compare Intuit's pricing with the competition to determine the best fit.

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About the Author

Molly K. McLaughlin is a New York-based writer and editor with more than a decade of experience covering technology. She has tested and reviewed all sorts of software, mobile apps, and gadgets. Before launching her freelance business, she was an editor at PC Magazine, covering consumer electronics, followed by a stint at ConsumerSearch.com, a revie... See Full Bio

Intuit QuickBooks Payments

Intuit QuickBooks Payments

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